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Business Standard
03-07-2025
- Business
- Business Standard
Forecast meets futures with NCDEX to tap real-time IMD weather data
This would help NCDEX develop statistically validated weather indices that form the foundation of weather-linked futures contracts New Delhi Listen to This Article In a step towards the formal launch of India's first weather derivatives, the country's leading commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), and premier state-run weather forecaster, the India Meteorological Department (IMD), on Thursday signed a memorandum of understanding (MoU) that will give the former access to IMD's historical and real-time weather data. This would help NCDEX develop statistically validated weather indices that form the foundation of weather-linked futures contracts. The agreement is after weather derivatives were included in the Securities Contracts (Regulation) Act, 1956 (SCRA), in 2024, paving the way for commodity exchanges to offer them as
Forbes
29-06-2025
- Business
- Forbes
When Labor Meets AI: The Next Frontier In Workforce Economics
Industry engineer construction,using smart tablet,control automation robot arm machine intelligence ... More operation construction site,concept business industry 4.0,Artificial intelligence or AI,5G network Even in the mid-20th century, leaders understood that organized labor was not only a bargaining tool but a pillar of economic credibility. Addressing the Amalgamated Clothing Workers of America Convention in 1956, Eleanor Roosevelt observed: Nearly seventy years later, her words echo with renewed relevance. As artificial intelligence accelerates in capability and adoption, the definition of work—and the institutions built to protect it—are entering uncharted territory. Labor unions, long a cornerstone of worker advocacy and financial leverage, now confront a systemic test: whether they can not only defend wages and conditions, but credibly guide the transition toward a machine-augmented economy whose disruptions are often invisible until they are irreversible. From their origins in the trades and industrial movements of the 19th century, unions gained influence by organizing workers around shared physical spaces, defined tasks, and predictable employment structures. Over the 20th century, these organizations grew into major political forces, channeling member dues into campaigns, legislation, and collective bargaining aimed at securing better wages, conditions, and protections. But technology has always tested the boundaries of labor. The disappearance of elevator operators—once a common union job—following the introduction of automated elevators in the mid-20th century serves as an early example of how technological efficiency can render once-essential roles obsolete. Today, artificial intelligence presents a far more expansive and systemic challenge. AI is not merely optimizing tasks; it is absorbing entire functions. From logistics to legal review, customer service to manufacturing, AI systems are increasingly performing duties once reserved for human workers, often at higher speeds and lower costs. world. During a conversation at Hamilton College in Upstate New York on April 3, former President Barack Obama remarked that only the most elite coders will be able to keep up with machine-generated code, signaling a broader trend: automation is no longer confined to repetitive tasks. It now threatens knowledge work and professional careers once thought immune to disruption. For unions, this evolution raises urgent questions. The traditional tools of organized labor—strikes, contract negotiations, grievance processes—were designed for human-centered workplaces. As algorithms replace decision-makers and predictive models supplant manual oversight, those tools are being tested. What does collective bargaining look like in a workplace run by artificial agents? How do you negotiate with a system that cannot respond to protest? Some unions are adapting. Contract language in select industries now includes clauses on algorithmic transparency, human review of AI decisions, and mandated re-skilling initiatives. Others are advocating for legislation that treats AI systems as subjects of labor law, requiring disclosure, audits, and ethical use standards akin to workplace safety regulations. In elections to come, we may see political contributions, once focused on wage floors and benefits, that are increasingly focused on supporting candidates who prioritize digital rights and AI governance. Still, many labor organizations remain caught in a reactive posture, confronting displacement after it has already occurred. Unlike prior technological waves, AI does not just replace physical tasks, it replicates judgment, analysis, and communication. Its spread is faster, its learning curve steeper, and its effects less visible until the disruption is complete. The future of organized labor may depend on its ability to reframe its role, not just as a protector of existing jobs, but as a steward of equitable transitions in a machine-augmented economy. Just as elevator operators once gave way to automation, today's workforce may need to accept that some roles will vanish. The question for unions is whether they can still shape what comes next. The German Model: IG Metall and Volkswagen A recent agreement between Volkswagen AG and IG Metall, one of the world's largest industrial unions, offers a roadmap for how labor organizations might not only adapt, but also influence the transformation. Finalized in December 2024 and titled Zukunft Volkswagen (Future Volkswagen), the agreement redefines union relevance in an age of automation. The deal includes a socially responsible workforce reduction of more than 35,000 positions across German plants by 2030. Rather than through layoffs, this reduction will be managed through early retirement, voluntary buyouts, and attrition. In return, Volkswagen committed to a job security guarantee through 2030 for remaining workers, even as automation and electric vehicle production reshape operational needs. The agreement also introduced flexible work models, redistributed development roles within the corporate network, and preserved core manufacturing functions across sites. The union's role extended beyond protection, it also helped co-design the structural transition, ensuring that workers had a voice in how technology would be integrated and labor reallocated. From a financial standpoint, the arrangement allows Volkswagen to realize €1.5 billion in annual labor cost savings while retaining production viability in Germany. It aligns with the company's goal to become the world's leading volume manufacturer of electric vehicles by 2030, without discarding its workforce. Implications for U.S. Labor While the U.S. legal and economic environment differs from Germany's, elements of the Volkswagen AG and IG Metall agreement offer instructive value for American unions navigating the AI era. Sectors including logistics, transportation, customer service, administrative support, and even healthcare are likely to become more vulnerable to automation-driven role reduction. In these fields, labor organizations might consider: From the steam engine to the microchip, labor unions have consistently recalibrated to meet changing conditions. AI represents a steeper curve, but not an insurmountable one. If unions can establish a role not only in defending existing positions but also in shaping the frameworks that govern new ones, it may help them continue to serve as key stakeholders in an evolving economic landscape. In this respect, they have an opportunity to reinforce the aspiration Roosevelt articulated: that collective strength, applied thoughtfully, can help align technological progress with broadly shared prosperity.
Hindustan Times
21-06-2025
- Business
- Hindustan Times
HC confirms ₹9.76-crore Stamp Act penalty on IL&FS
MUMBAI: The Bombay high court on Wednesday confirmed a ₹ 9.76-crore penalty imposed on IL&FS Financial Services Ltd (IFIN) for failing to pay stamp duty on time following the demerger of the company. A single judge bench of justice Jitendra Jain dismissed the petition filed by the IL&FS group firm, challenging the levy of penalty over and above the stamp duty of ₹ 7.07 crore, which was payable towards registration of the court order on the company's demerger. (Shutterstock) IL&FS (Infrastructure Leasing & Financial Services) underwent a demerger in 2007-08, wherein iIts ancillary businesses including IFIN were constituted as wholly-owned subsidiaries and IL&FS was transformed into a holding company focused on investments and lending to its group companies. After the Bombay high court operating under the Companies Act, 1956 sanctioned the demerger scheme in April 2008, the company lodged the document with the collector of stamps for adjudication of stamp duty. The company subsequently failed to supply documents and information sought by the collector of stamps, which resulted in the collector issuing a demand letter on December 19, 2014 for payment of stamp duty and penalty. On December 31, 2014, the collector of stamps issued a demand notice to the company, directing them to pay ₹ 7.07 crore towards stamp duty and ₹ 9.76 crore towards penalty under the Maharashtra Stamp Act, 1958. The company accepted the stamp duty, but opposed imposition of the penalty and appealed before the Chief Controlling Revenue Authority (CCRA) in January 2015. On March 25, 2015, the CCRA granted a stay on recovery proceedings for the penalty after the company deposited the stamp duty. After the CCRA dismissed the company's petition in 2017, it approached the high court. Before the high court, IL&FS argued that as per section 31(4) of the Maharashtra Stamp Act, penalty at the rate of 2% could be imposed only if the stamp duty payable under section 30 of the Act was not paid within 60 days from the date on which the notice of demand was served. The company contended that March 25, 2015 – the date of the interim order of the CCRA – was the date of serving demand notice under section 31(4) and since it had paid the stamp duty on March 27, 2015 – that is, within two days of the said interim order – there was no default and consequently, no penalty could be imposed. The court observed that the 60-day period would, at most, start from December 19, 2014 – the date on which the demand letter was issued; or December 31, 2014 – the date on which the demand notice was issued; or January 14, 2015 – then the company filed an appeal with the CCRA. 'The petitioner after having admitted the liability of payment of stamp duty vide letter dated December 19, 2014 and made the respondents (collector of stamps) to issue final demand notice dated December 31, 2014 failed to make payment within 60 days thereof, which would expire on March 2, 2015,' the court said, confirming the penalty imposed on the company.
The Sun
15-05-2025
- Entertainment
- The Sun
How do I vote in Eurovision 2025 tonight and what time will results be revealed?
VOTING in the Eurovision Song Contest 2025 can be accomplished via a variety of handy methods. Here's everything you need to know about how to support your favourite acts, as well as when the results will be revealed. 4 Eurovision 2025 is well underway, with the song contest returning to Switzerland, where the very first of its competitions was held way back in 1956. The first semi-final of Eurovison 2025 took place on Tuesday, May 13, and the second is being held on Thursday, May 15, while the Grand Final follows on Saturday, May 17. Voting rules There are some important rules to keep in mind when voting in Eurovision 2025: You cannot vote for your own country's entry Each person is allowed to vote up to 20 times, but only once per act per voting method Voting is open to viewers in all participating countries, as well as the 'Rest of the World' — i.e. non-participating countries Only countries competing in each semi-final can vote, as well as the three pre-qualified countries (the UK, France and Germany) Votes from the Rest of the World are aggregated and count as one additional set of points. Voting windows The voting window for the remaining Eurovision 2025 semi-final opens after the last song has been performed. The voting window remains open for approximately 18 to 20 minutes, giving fans a limited time to support their favourite acts before the lines close and the results are tallied. Presenters will announce both when voting opens and closes. For the Grand Final on Saturday, 17 May 2025, voting opens just before the first song is performed and stays open until about 40 minutes after the last song finishes. If you are voting from the Rest of the World, online voting opens at midnight on the day of the final and closes when the live show begins. During the Grand Final, voting for the Rest of the World also opens just before the first song is performed, and will again remain open until approximately 40 minutes after the last song has been sung. How to vote Voting in Eurovision 2025 involves two main methods. You can vote for your favourite acts by telephone, using either a landline or a mobile phone. Another popular method is through the official Eurovision app, which is available on iOS, Android and Windows devices. In some countries voting by SMS is also possible, but not in the UK. In countries where voting my SMS is possible, the appropriate numbers will be displayed on-screen by each participating broadcaster, as well as on the official voting website — which also features a countdown to the next Eurovision broadcast. Viewers in the UK are eligible to vote in the second semi-final and the Grand Final, but were not able to in the first semi-final. Phone To vote by phone, the relevant numbers will appear on-screen. Use the long (11-digit) number for your chosen country if calling from a landline, or the short (7-digit) number if using a mobile phone. Note that shortcodes may not work in the Channel Islands or Isle of Man. App Alternatively, you can use the official Eurovision app to cast your vote. Simply download it from your device's app store, then during the show, follow the prompts to cast your vote for your favourite acts. 4 App users will receive a special thank-you message from their chosen performers, adding a nice personal touch to the experience. Results revealed As for when the results will be revealed, after voting closes (which is about 40 minutes after the final performance), the results are announced in two main stages. First, each participating country's jury points are announced by a national spokesperson. These points range from one to eight, then 10, and finally 12 points awarded to their top ten acts. After the jury points are revealed, the combined public televote from each country and the Rest of the World is announced. This televote dramatically adds to each act's total score. The winner is the act that achieves the highest combined total of jury and public points. The results are usually revealed between 11.15pm and midnight, following the conclusion of voting and the interval acts.
Times
12-05-2025
- Entertainment
- Times
The 16 best Eurovision winners — ranked
Since 1956 the Eurovision Song Contest has entertained, fascinated and amused the television viewing public with its mix of sublime and ridiculous performances from musicians and artists of every style. It has been the launchpad for serious international stars such as Abba and Celine Dion, but for many it will be their first and only chance to impress on the global stage. The secret to a Eurovision hit is not just a good song or a big name performer. With heavyweight entrants such as Cliff Richard and Engelbert Humperdinck having failed to take home the prize for the UK in the past, the contest is always hard to call. But here we are not concerned with the near misses and the also-rans (so please don't
